The market size of the global food cold chain market in the year 2021 is valued at 408.72 billion and is predicted to reach 809.39 billion by the year 2030 at an 8.21% CAGR during the forecast period.
The cold chain is a valuable method for protecting temperature-sensitive commodities during transport by using refrigerated and thermal packaging. The global food and beverage industry commonly uses the cold chain to protect products against thermal deterioration. Due to growing consumer knowledge, diets high in protein replace those high in carbohydrates in developing economies. Due to a shift in the economy that consumers are driving, nations like China are predicted to show a strong growth rate in the upcoming years. The market is projected to rise in developing countries due to increasing technological developments in refrigerated transportation and warehouse management.
Additionally, rising government subsidies have allowed service providers to enter these burgeoning markets with creative transportation-related solutions. Cold chain services are designed for products that need to be transported and stored under optimal temperatures. The growth of retail chains in supermarkets, hypermarkets, and convenience stores is one of the main factors affecting the development of the cold chain business. As a result of the expansion of retail chains, some producers now have their own internal chilled storage facilities. Ample food retail chains are expanding their shops in developed countries like the UK, the US, and Germany, as well as emerging economies like China, Brazil, and Argentina.
Furthermore, the advent of such large merchants and their expanding operations in international trade are creating market expansion potential for chilled warehousing and chilled transportation. Governments in various nations are attempting to reduce food and agricultural waste by setting legislation about food waste and providing support to businesses involved in the food industry, such as the cold chain sector. The e-commerce-based food and beverage delivery industry have seen a considerable increase due to the rising demand for perishable goods and the need for quick delivery.
The Global food cold chain market is segmented into Product Type, Cold Chain Transportation, Cold Chain Storage, Monitoring components, by Packaging Type Products, Material, by Application, meat and marine product segment led the global market exhibiting the highest revenue share in 2021 and will retain the leading position with growing technological developments in the processing, packaging, and storage of seafood are anticipated to stimulate the growth of this segment. Moreover, a rise in fish production is expected to boost segment growth. Other segments are by Equipment’s, Storage Equipment, Transportation Equipment, and by Region, Europe, North America, Latin America, Asia Pacific, Middle East & Africa.
Some of the key players operating in the Food cold chain market AGRO Merchants Group, Interstate Cold Storage Inc., Americold Logistics LLP, Kloosterboer Group B.V., Burris Logistics, Lineage Logistics Holding LLC, ColdEx Logistics, Nagel-Group SE & Co. KG, Emergent Cold LLC, Novo Nordisk, VersaCold Logistics Services, Gruppo Marconi SRL, Penske Logistics Inc., Hanson Logistics Inc., Tata Motors, Henningsen Cold Storage Co., United States Cold Storage Inc. and others.
Global Food Cold Chain Market, by Packaging Type, 2020-2030, (Value US$ Mn)
